Huge amounts of fraud too. Wall street is basically a pyramid scheme at this point where everyone thinks they'll get out on time to get rich.... mirroring symptoms of a serious gambling addiction.
Would agree, but I think greed doesn't fully capture the culture. Incompetence plays a large part in this, on the part of the regulators and the actual banks.
The regulators refused to downgrade the credit ratings of products as the banks would go to their competitors if they did, and they would lose money. Corruption, greed, incompetence... call it what you like, it still falls under fraud. If there is one snapshot of behaviour in a capitalist system that highlights the flaw of the system it has to be this. Why do regulators need to make money? An absurd conflict of interest.
